Serbia Seeks Bids for Majority Stake in Privredna Banka

Serbia is seeking bids for a majority stake in Privredna Banka Beograd AD (PRBN), one of three state-owned banks that received government aid this year.

The government owns 64.8 percent of the Belgrade-based bank, which had 254.9 million euros ($329 million) of assets and a 1 percent share in the local market at the end of September, according to an announcement published in the newspaper Politika today. Potential buyers can place preliminary bids by Dec. 27.

Its shares closed unchanged at 60 dinars on Dec. 7, valuing the unprofitable lender at 150 million dinars.

Last week, the government decided to look for an investor to take over assets and liabilities of Razvojna Banka Vojvodine AD (MTBN), just weeks after passing a law that allowed the state to merge collapsed Agrobanka AD with Postanska Stedionica Banka AD. (PSBN)

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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